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API reported a surprise 1.019 million barrel crude build for the week ending September 25, bucking forecasts of a 1.9 million barrel draw. SPR fell to 283.8 million barrels after another 800,000 barrel release, while Brent slid 2.83% to $102.32 and gasoline stocks jumped 2.991 million barrels.
November WTI crude oil (CLX26) is down -2.49 (-2.68%) today, and November RBOB gasoline (RBX26) is down -0.1257 (-3.69%).Crude oil and gasoline prices are sharply lower today after the G7 announced it will release up to 100 million bbl of crude oil and diesel supplies from its strategic reserves. C…
Saudi Arabia restarted the East-West Pipeline. Aramco to resume crude exports from Yanbu port on Tuesday. Initial phase restored half capacity by bypassing damage. Full operational recovery was projected within six weeks.